Commercially Reasonable definition

Commercially Reasonable or “Commercially Reasonable Efforts” means, with respect to any action required to be made, attempted or taken by a Party under this Agreement, the level of effort in light of the facts known to such Party at the time a decision is made that: (a) can reasonably be expected to accomplish the desired action without a material increase in costs incurred by such Party; (b) is consistent with Prudent Industry Practices; and (c) takes into consideration the amount of advance notice required to take such action, the duration and type of action and the competitive environment in which such action occurs.

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Commercially Reasonable means sound and prudent practices in a manner commercially reasonable for an onshore Product gathering system operator and in a manner consistent with industry standards at the applicable point in time.

Commercially Reasonable means sound and prudent practices in a manner commercially reasonable for an onshore Crude Petroleum pipeline operator and in a manner consistent with industry standards at the applicable point in time.

Examples of Commercially Reasonable in a sentence

Eureka will sign, or will use Commercially Reasonable Efforts to have signed, all legal documents as are reasonably necessary for Licensee to assume the Prosecution and Maintenance in the Licensee Territory of such assumed Eureka Controlled Patent Rights.
Licensee will sign, or will use Commercially Reasonable Efforts to have signed, all legal documents as are reasonably necessary for Eureka to assume the Prosecution and Maintenance in the Territory of any Licensee Agreement Patent Rights.
Licensee and its Related Parties will use Commercially Reasonable Efforts to Develop at least one Licensed Product in the United States and each Major European Country.
With respect to any proposed publications or disclosures by investigators or academic or non-profit collaborators, such materials will be subject to review under this Section 9.2.1 to the extent that Licensee has the right and ability (after using Commercially Reasonable Efforts to obtain such right and ability) to do so.
On a Licensed Product-by-Licensed Product basis, Licensee and its Related Parties will use Commercially Reasonable Efforts to (a) obtain Pricing and Reimbursement Approval for such Licensed Product, where applicable, in the United States and each Major European Country in which Regulatory Approval therefor has been obtained, and (b) following receipt of Pricing and Reimbursement Approval for such Licensed Product in any such country, where applicable, Commercialize such Licensed Product in such country.

More Definitions of Commercially Reasonable

Commercially Reasonable shall have a corresponding meaning.

Commercially Reasonable means sound and prudent practices in a manner commercially reasonable under the then existing circumstances and in a manner consistent with or better than industry standards at the applicable point in time.

Commercially Reasonable when used in the context of efforts to be taken means efforts which would ordinarily be taken by a business person in the applicable industry were he in the position under this Agreement of being the supplier of SUMF Items or the owner of the Plant, whichever shall be the relevant case. Such efforts shall only be taken at the sole cost and request of the Party entitled to request or require “commercially reasonable” efforts (“the Requiring Party”) provided however, that the Party who undertakes such efforts shall not be (i) obligated to interfere with its own business activities or plans, nor (ii) required to employ additional employees in order to accomplish such matters, nor (iii) required to expend any of its own funds to accomplish such request without the right to reimbursement from the Requiring Party;

Commercially Reasonable means any of the practices, methods and acts which, in the exercise of reasonable judgment in light of the facts known, or which in the exercise of due diligence, should have been known, at the time the decision was made, would have been expected in the industry to accomplish the desired result consistent with reliability, safety, expedition, project economics and regulations.

Commercially Reasonable means a sale that is commercially reasonable within the meaning of the Uniform Commercial Code.

Commercially Reasonable means terms and pricing that are reasonably consistent with what an experienced power market analyst would expect to see in transactions involving newly developed renewable energy resources.